INR CLIMBS FURTHER AS DOMESTIC BENCHMARK INDICES RALLY

Published on Jan 15, 2024 17:03

The Indian rupee continued to climb against the dollar on Monday tracking further rally in domestic benchmark indices. Rupee strengthened for the ninth consecutive session near a four month high to settle with a gain of 6 paise to 82.89 (provisional) against the US dollar. At the interbank foreign exchange, the local currency opened at 82.82 and traded between 82.77 and 82.91 against the greenback during intra-day deals. Benchmark indexes Sensex and Nifty both rose sharply past key milestones today despite muted cues from global markets and deepening tensions in the Middle East. The benchmark S&P BSE Sensex jumped 759.49 points, or 1.05 percent, to 73.327.94 on optimism about strong domestic earnings and hopes for potential interest rate cuts by the U.S. Federal Reserve and the European Central Bank. The broader NSE Nifty index settled 202.90 points, or 0.93 percent, higher at 22,097.45.